BEIJING (Asian Metal) 5 Dec 19 – On December 4, Canadian-based Largo Resources Ltd. announced the renewal of its Superintendencia do Desenvolvimento do Nordeste (“SUDENE”) tax incentive which extends the Company’s current tax rate of 15.25% to December 2028.
The Company’s current SUDENE tax incentive reduces its effective tax rate from 34.0% to 15.25% and was granted in January 2015 for a period of ten years on annual production of 9,636 tonnes of vanadium pentoxide (“V2O5”). Under the renewed incentive, the Company’s current tax rate has been extended to December 2028 including the calendar year of 2019 and applies to the production of up to 13,260 tonnes of V2O5 per year.
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